Xoom Introduces Cross Border Bill Payments
Digital money transfer provider Xoom, is transforming cross border bill payments with the launch of Xoom Bill Pay.
This new feature allows consumers residing in the U.S. to pay the bills of their loved ones back home in just a few clicks.
With Xoom Bill Pay, US immigrants can easily pay the bills of their loved ones online, saving them from the hassles and risks of paying in person.
The platform allows consumers to pay electricity, telephone, internet, cable, water, and gas bills from their mobile devices, tablets or computers. Xoom charges $2.99 per bill paid.
What differentiates Xoom Bill Pay is its ability to query account balances in real time with the use of an account number. This feature provides senders with more visibility into the expenses of their recipients.
“We believe Xoom Bill Pay is revolutionary for paying bills in developing countries, where it’s very difficult for senders and beneficiaries to access bill receipts in a timely manner, and also hard to have good visibility over recipients’ expenses,” said Bobby Aitkenhead, vice president of Xoom Bill Pay.
Currently, the service facilitates payments to important utility providers in Mexico, Guatemala, El Salvador, Nicaragua, and the Dominican Republic.
By 2015, Xoom plans to introduce bill pay services to other countries including India, Panama, the Philippines, Vietnam, and countries in South America.
This feature could potentially save Xoom customers and their money recipients time and effort, while expanding the money remittance industry’s capabilities (and expectations) as a whole.